Saudi-backed Lucid Motors launches its first electric vehicle

Saudi-backed Lucid Motors launches its first electric vehicle

Backed by Saudi Arabia's Public Investment Fund, Lucid Motors has unveiled its first production electric vehicle (EV), which is hoped will rival Tesla in the market.

The Lucid Air was launched from the company's Silicon Valley headquarters on Thursday, with deliveries expected to start in spring 2021.

"Lucid Motors is driven to make the electric car better, and by doing so, help move the entire industry forward, towards accelerated adoption of sustainable mobility. The goal of this relentless approach to developing the world's most advanced electric vehicle is to benefit all mankind with sustainable, zero emission transportation, and to also attract new customers to the world of EVs,“ said Peter Rawlinson, CEO and CTO, Lucid Motors.

Peter Rawlinson, CEO and CTO, Lucid Motors.

The PIF, which also has a stake in Tesla, invested more